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Fiscal Policy and the Economy’s Great Divide: Addressing the Income and Jobs Gap in the Traditional Economy

September 29, 2020 11:07 am Published by

As Canada recovers in lopsided fashion from its historic economic contraction in the first half of 2020 (1H2020), the economic and social costs of the first-ever services-led recession are striking. The V-shaped recovery of equity and debt markets, and the surge in technology industries contrast starkly with the major income declines and job losses in much of the traditional economy. They make it essential to address the ongoing “Great Divide” among financial markets, technology sectors and most of the traditional economy.

Model Risk Management in the Current Pandemic Environment

August 21, 2020 10:27 am Published by

The rapidly changing environment of the pandemic has strained the process of model development and independent validation functions in risk management. This paper discusses selected challenges institutions may face in its model risk management process and addresses some of these challenges, leveraging its traditional infrastructure for managing all risks on an enterprise wide level.

Canadian Bank Dividends: Income Importance During and Beyond the Pandemic

June 30, 2020 4:31 pm Published by

This article explores the benefits of Canadian bank dividends, beginning with two areas that are often too little recognized. The first is the significance of Canadian bank dividends to sustaining household cash flow and liquidity, including their rising share of retail investor incomes, attractive absolute and relative yields, and dependability. The second is the crucial role of bank dividends in seniors’ incomes, including the structural trends boosting their importance in funding retirees’ spending needs.

Regulatory Forbearance in the Age of COVID-19

May 12, 2020 3:31 pm Published by

Navigating the current crisis requires considerable professional judgement, which must be supported by a number of key elements, including; active stakeholder consultation, robust risk management information systems, effective governance and, importantly, guiding principles. In response to this unique challenge, financial regulators have begun to implement a wide range of special policy actions.

Bank Dividend Regulation: Impact of the COVID-19 Pandemic

May 8, 2020 4:48 pm Published by

With the world in the midst of the COVID-19 pandemic that has precipitated a severe global economic contraction, regulators and financial market professionals across the world have moved rapidly to prevent another financial crisis. As part of the regulatory initiatives intended to reduce the real economy impact and financial market strain, some regulators have been calling for coordinated, worldwide action to suspend all bank dividends for the foreseeable future.